Nicaragua, Hong Kong Company Ink Inter-Oceanic Canal Plan

Nicaragua and the Hong Kong-based company have signed a memorandum of understanding (MOU) on financing for a $30 billion inter-oceanic canal.

The canal will cater for larger ships than the Panama Canal and will be Central America’s second main waterway.

According to theaustralian.com, this document was signed by Nicaraguan deputy foreign minister and president of the Grand Interoceanic Canal Authority, Manuel Coronel Kautz, and the head of the HK Nicaragua Development Inversion Company, Wing Jang.

The Nicaraguan government stated that three Dutch companies currently are conducting pre-feasibility studies for the construction of the canal.